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Appraisal Federal Housing Administration (FHA) Financial Services Industry

Ballard Spahr LLP

Federal judge dismisses high-profile case involving allegations of racial discrimination in appraisals

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A federal judge has dismissed a high-profile case involving allegations that a home appraiser was racially biased in his appraisal. ...more

Ballard Spahr LLP

HUD Rescinds Various FHA Mortgage Loan Requirements

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Recently the U.S. Department of Housing and Urban Development (HUD) rescinded various FHA mortgage loan requirements in a series of five Mortgagee Letters....more

Ballard Spahr LLP

HUD, Fannie Mae and Freddie Mac Issue Reconsideration of Value Guidance to Combat Appraisal Bias

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The U.S. Department of Housing and Urban Development (HUD), through the Federal Housing Administration (FHA), recently issued Mortgagee Letter 2024-07 addressing reconsideration of value (ROV) policies in connection with...more

Orrick, Herrington & Sutcliffe LLP

FHA seeks feedback on changing reconsideration of valuation requests

Recently, FHA published a draft mortgagee letter (ML) proposing policy changes to its requirements for processing and documenting reconsideration of valuation (ROV) requests, specifically when requests are initiated by a...more

Ballard Spahr LLP

FHA Extends Temporary Employment Verification and Appraisal Guidance Due to COVID-19

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In Mortgagee Letter 2020-20 dated June 29, 2020, the U.S. Department of Housing and Urban Development announced the extension of FHA temporary guidance regarding employment verification and appraisals due to COVID-19. The...more

Ballard Spahr LLP

Treasury Recommends Sweeping Industry Changes for Mortgage Lenders and Servicers

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As covered earlier this week in a legal alert, the U.S. Department of the Treasury issued a report recommending sweeping regulatory changes for consumer financial services. Within the report, the Treasury also recommended a...more

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